SAS sinks into red in 1H results

SAS (SK) announced a loss for the half-year ending June 30 and cited an uncertain outlook for the remainder of the period.
The Scandinavian carrier recorded a net loss of SEK409 million ($61.1 million), compared to a profit of SEK178 million for the 2011 first half. Revenue was marginally up at SEK20.9 billion, compared to SEK20.6 billion a year ago. Passenger numbers rose 4.1%.
SK said that its cost-saving program, 4Excellence, announced in fall 2011 and which aims to reduce costs by ...

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